Complete Guide To Buying Property In Panama

In this Panama Special Report, we cover the topic of buying real estate and property in Panama, including an exclusive on what you need to know beforehand in order to negotiate and have a smooth purchase process.

Panama is still a developing market—and a relatively unregulated one. This report will help you to navigate the quirks and details of Panama’s property market.

For newcomers looking to purchase property in Panama, the entire task can seem daunting. The markets differ from capital city to the beach areas to the interior. The process of finding and negotiating for a property isn’t the same as it is in the United States. Handling the bureaucracy and red tape when closing a deal can cause quite the headache, even for those with experience in real estate Stateside.

Panama City’s property market has been strong for the past decade, surviving the crash of 2007 and 2008, riding the country’s extraordinary economic growth of the past decade. Outside Panama City, the markets for both sales and rentals are less developed, and you have to put in time on the ground to find what you want. High demand in some rural areas means that prices are close to par with those in the capital.

The Definitive Guide To Carnaval In Panama

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The big news in Panama every February is carnaval. This is the biggest party in Panama each year—more eagerly anticipated than Christmas. During the days of carnaval, thousands of people from every corner of the country dance to earsplitting music, while beautiful parade floats and elaborately dressed carnaval queens saunter down every major avenue of the country.

Albrook and Clayton, Panama City, Panama

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In this Panama Special Report, we bring you the areas of Albrook and Clayton, Panama City.

Both Albrook and Clayton originated as part of the Panama Canal Zone. The infrastructure and neighborhoods were built by U.S. engineers to be used by the U.S. armed forces. When the U.S. government turned the Panama Canal over to the Panamanians 10 years ago, Clayton and Albrook came as part of the package. In the decade since, these two communities have developed into quiet, peaceful residential areas with parks, single-family homes, some of the best schools in Panama, and small retail areas. Perfect if you’re relocating with a family but very appealing, too, if you’re just looking for a more suburban experience.

Las Tablas, Panama

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In this Panama Special Report, we bring you our top pick for beach living in Panama: Las Tablas.

Located on the Azuero Peninsula, Las Tablas is the first town of note along what is becoming this country’s Gold Coast. The charming city is well-known even beyond Panama for it’s yearly Carnival festival.

Balboa, La Boca, and Amador Causeway, Panama City, Panama

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In this Panama Special Report, we bring you the areas of Balboa, La Boca, and Amador Causeway, all located within Panama City.

Only a few miles away from the hustle and bustle, the bright lights, and the hectic honking of cab horns, brings you to what used to be considered the Canal Zone. You know you’ve entered this area when on one side you see multicolored storage containers stacked one on top of the other, like a Lego village, while on the opposite side of the street you see boxy, tan-colored old military barracks and government buildings.

Bocas del Toro, Panama

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Bocas del Toro is a tourist town. In fact, it is often regarded as Panama’s top tourist destination—and for good reason, too. Bocas del Toro Province is one of the most pristine areas on Panama’s Caribbean coast, and tourists have started to take note of its dense rain forests, clear and clean turquoise water, and white-sand beaches.

Bocas del Toro is a province in Panama consisting of a small portion of the mainland as well as an archipelago of nine islands. It borders the Caribbean Sea to the north, Chiriquí to the south, Costa Rica to the west, and the indigenous Ngöbe-Bugle comarca to the east.

Minutes after stepping off the water taxi that takes you to Bocas Town, on the Bocas del Toro archipelago’s Isla Colón, tour guides are waiting to pounce with their offers of island hopping, scuba diving, surf lessons, ziplining, and more. Hostels, hotels, bed-and-breakfasts, restaurants, cafés, and bars surround the main seafront strip where the water taxis unload the wide-eyed visitors.

But Bocas is so much more than just tourists… The 19,000 or so residents in town consist of surfers, fishers, and entrepreneurs, including local indigenous people, Panamanians, and foreigners. Like much of Panama, Bocas is a multicultural mix.

Bocas town has a distinctly Caribbean flair (not surprisingly, given that it’s located on the Caribbean coast). Rastafarian culture is present in the music, shops, and restaurants, and Bob Marley blasts from bar speakers and adorns tourist T-shirts. Don’t be confused though. This isn’t Jamaica; Bocas Town just feels like Jamaica.